Union Properties PJSC — Capital/Financing Update 2021

Sep 16, 2021

Press Release

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With a value of AED 800 Million laying the foundation stone of “Motorcity Views”

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16 September 2021

"Union Properties PJSC, Dubai's iconic real estate developer in cooperation with the prestigious contracting company Airolink , has launched the preliminary construction works for its latest real estate project, "Motor City Views" announced earlier in August, this came in a ceremony held yesterday at the project site at Motorcity, Al Hudaiba 2, Dubai, with the participation of Mr. Abdullah Al Rustumani, General Manager of Union Properties PJSC, in addition to Executive Managers from both companies and the engineers who will supervise the construction of the project.

The new project is positioned in the heart of Motorcity consisting of 3 buildings each of 7storeys featuring commercial spaces for retail stores, restaurants, shopping centers and apartments, consisting of 880 apartments, varying between 313 studios, 427 one-bedroom apartments, 133 two-bedroom apartments, and 7 three-bedroom apartments.

Quoting the launching of the project HE Khalifa Hasan Al Hammadi, Chairman of the Board of Directors, said, we are proud today with the coordination of the contractor Airolink to lay the foundation stone and launch the project “Motorcity Views” which represents a real return for Union Properties PJSC as a leading real estate developer with a distinguished reputation that spans more than three decades and a foundation for future developments. HE Khalifa Hasan Al Hammadi then added that the board of directors’ efforts were devoted to returning the company to the ranks of the leading real estate developers in Dubai.

And Mr. Abdullah Al Rustumani, General Manager of Union Properties PJSC, concluded that the main objective of the "Motorcity Views" project is to provide a distinct residential

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Press Release

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destination and a new urban landmark, providing a qualitative addition that enriches the urban development in Dubai through the construction of a diversified residential complex equipped with the latest integrated facilities.

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For general inquiries, please contact: Union Properties PJSC Investor Relations Department Ms. Fatima / Mr. Asem Tel: 0097148066667 Email: IR@up.ae

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